Oppenheimer Raises Price Target On Nuance Communications (NUAN) Ahead of Q1 Results

Oppenheimer raised its price target on Outperform-rated Nuance Communications (NASDAQ: NUAN) from $30 to $34 ahead of Q1 earnings on 2/9, saying they expect solid quarter as the iPhone 4S and transcription technology bolstered key divisions.

The analyst comments, "We expect NUAN to deliver results at least in line with consensus revenue/EPS estimates of $386M/$0.36, respectively, building on two quarters of strong performance. While NUAN's Mobile Division (~25% of revs) is certainly a derivative play on the success of the iPhone 4S and the Android ongoing traction, we believe the company's other divisions are also delivering strong performance. Our checks suggest that Health Care (40%), Enterprise (25%) and Imaging (10%) continue to benefit from strong secular trends."

For an analyst ratings summary and ratings history on Nuance Communications click here. For more ratings news on Nuance Communications click here.

Shares of Nuance Communications closed at $29.31 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Gilead Sciences (GILD) Misses Q1 EPS by 288c
• Getlink (GET:FP) (GRPTF) PT Raised to EUR19.50 at Morgan Stanley
• Essity AB (ESSITYB:SS) (ESSYY) PT Raised to SEK243 at Barclays